China's Stocks Plummet Over Ongoing Iran Crisis; Jiangsu Hengli Hydraulic Sheds 8% After Chair's Arrest

MT Newswires Live03-23

Chinese equities tumbled at close of the first day of the trading week as sentiment was dragged down by ongoing concerns over the Iran conflict.

The Shanghai Composite Index slumped 3.6%, or 143.77 points, to close Monday's trade at 3,813.28. The Shenzhen Component Index dipped 3.8%, or 520.69 points, to 13,345.51.

Oil prices continued to rise as Tehran warned it would indefinitely close the Strait of Hormuz after U.S. President Donald Trump gave a deadline to reopen the critical oil waterway or Iran's power plants would be "obliterated".

In corporate news, Giantec Semiconductor (SHA:688123) dipped 10% despite its 2025 attributable net profit jumping 25% year on year to 363.6 million yuan.

Jiangsu Hengli Hydraulic (SHA:601100) fell 7.8% after its chair and de facto controller, Wang Liping, was detained by the Jiangsu Provincial Supervisory Commission, following the issuance of a case filing and detention notice.

Shenzhen China Micro Semicon (SHA:688380) declined 4.5% despite plans to acquire 20% of Zhuhai Boya Technology through a 160 million yuan capital increase.

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The Shenzhen Component Index dipped 3.8%, or 520.69 points, to 13,345.51.</p><p>Oil prices continued to rise as Tehran warned it would indefinitely close the Strait of Hormuz after U.S. President Donald Trump gave a deadline to reopen the critical oil waterway or Iran's power plants would be \"obliterated\".</p><p>In corporate news, <a href=\"https://laohu8.com/S/688123\">Giantec Semiconductor</a> (SHA:688123) dipped 10% despite its 2025 attributable net profit jumping 25% year on year to 363.6 million yuan.</p><p><a href=\"https://laohu8.com/S/601100\">Jiangsu Hengli Hydraulic</a> (SHA:601100) fell 7.8% after its chair and de facto controller, Wang Liping, was detained by the Jiangsu Provincial Supervisory Commission, following the issuance of a case filing and detention notice.</p><p><a href=\"https://laohu8.com/S/688380\">Shenzhen China Micro Semicon</a> (SHA:688380) declined 4.5% despite plans to acquire 20% of Zhuhai Boya Technology through a 160 million yuan capital increase.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU2778985437.USD","symbol_name":"ALLIANZ CHINA FUTURE TECHNOLOGIES \"A\" (USD) INC","start_time":0,"source_url":"https://www.mtnewswires.com/","article_id":"2621778957","we_media_id":"1092851196","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2621778957","pubTimestamp":1774251565,"columns":[],"sourceInfo":{"source_id":"mtnewswires_news","name":"MT Newswires"},"weMediaInfo":{"media_name":"MT Newswires Live","introduction":"The most recognized names in North America, Europe and Asia rely on MT Newswires to power their applications. 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